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Ex-ASIC manager to review banking code watchdog

Ex-ASIC manager to review banking code watchdog By Sarah Simpkins 05 August 2021 An independent body that monitors the banks’ behaviour has commenced a review, as it is assessing its industry code of practice. The Banking Code Compliance Committee (BCCC), a body that monitors banks’ compliance with the Banking Code of Practice, has started an independent review of its activities. Phil Khoury, principal at consultant cameron. ralph. khoury, has been picked to conduct the review of the BCCC, having previously assessed the committee and the banking code. Previously, Mr Khoury appeared before the banking royal commission in his capacity as a reviewer of the Banking Code of Practice. He has also been an executive general manager with ASIC 

Former CBA exec launches brokerage

Mortgage Business Former CBA exec launches brokerage By Sarah Simpkins 05 August 2021 True Savings, a new online brokerage headed by former CBA executive Pete Steel, has entered the Australian mortgage market. Mr Steel, former CBA chief digital officer, has taken the lead as chief executive and founder of the new platform, which offers ongoing automated assessments of users’ mortgages and remote broker advice. After 16 years with the big four bank, he told Mortgage Business that he had a “big itch”, watching customers struggle with the complexity of home loans. “The whole time, I could see that banks, they put people in homes, which is wonderful, but they don’t really focus on helping those customers save on their home loan year after year. That’s how they make money, by excess margin there,” Mr Steel said.

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